2024-10-29T12:50:08-05:00 2023-12-31 910189318 MOSS ADAMS LLP 4747 EXECUTIVE DR SUITE 1300 SAN DIEGO CA 92121 990 2023-01-01 942933165 SAN FRANCISCO BAY UNIVERSITY SANF 5105929688 161 MISSION FALLS LANE FREMONT CA 94539 LISA MILLORA COO 5108037328 2024-10-28 1 1 PATRICIA J MAYER P00188643 8586271400 2024-11-15 2023 2024-10-15 13:58:12Z NICHOLAS LADANY 161 MISSION FALLS LANE FREMONT CA 94539 120417982 0 X HTTPS://WWW.SFBU.EDU/ X 1984 CA SAN FRANCISCO BAY UNIVERSITY PROVIDES DIVERSE LEARNERS WITH INCLUSIVE, INNOVATIVE, AND INSPIRATIONAL EDUCATION FOR LIFELONG PERSONAL AND CAREER SUCCESS. 10 10 112 10 0 0 0 0 1674008 4183382 9308280 19741011 3771803 -177895 14754091 23746498 1164825 3035195 0 0 4282176 5388010 0 0 0 5945868 6957641 11392869 15380846 3361222 8365652 264099503 306152496 995799 1219946 263103704 304932550 TO PROVIDE QUALITY HIGHER EDUCATION TO HELP INDIVIDUALS OF DIVERSE BACKGROUNDS, INTERESTS, AND SKILLS ACHIEVE THEIR FULL ACADEMIC AND CAREER POTENTIAL. 0 0 8486767 2640623 3684614 SAN FRANCISCO BAY UNIVERSITY ("SFBU") OFFERS BACHELORS AND MASTERS PROGRAMS IN ENGINEERING AND BUSINESS. FOR MASTERS DEGREE STUDENTS, SFBU OFFERS ONSITE CLASSES AS WELL AS THE ONLINE MBA PROGRAM, WHICH WAS APPROVED BY WSCUC IN 2021. SFBU PROVIDES GUEST SPEAKER LECTURES, ORIENTATION, CAREER COUNSELING SERVICES, LIBRARY SERVICES, FIELD TRIPS, CLUB ACTIVITIES, CULTURAL EVENTS, AND OTHER SERVICES TO SUPPORT STUDENT EDUCATION. MASTERS DEGREE STUDENTS ARE ALSO EXPOSED TO GRADUATE LEVEL CURRICULUM THAT ENABLE FUTURE SUCCESS IN THEIR FIELDS. 1862948 394572 498768 FOR BACHELORS DEGREE STUDENTS, SFBU OFFERS ONSITE CLASSES, GUEST SPEAKER LECTURES, ORIENTATION, CAREER COUNSELING SERVICES, LIBRARY SERVICES, FIELD TRIPS, CLUB ACTIVITIES, CULTURAL EVENTS AND OTHER SERVICES TO SUPPORT STUDENT EDUCATION. ON JUNE 26, 2020, NPU WAS ACCREDITED BY THE WASC SENIOR COLLEGE AND UNIVERSITY COMMISSION (WSCUC). ON DECEMBER 17, 2020, SFBU'S INTENSIVE ENGLISH PROGRAM WAS ACCREDITED BY THE COMMISSION ON ENGLISH LANGUAGE PROGRAM ACCREDITATION. 10349715 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 45 0 1 112 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X CALVIN YU 5102100981 161 MISSION FALLS LANE FREMONT CA 94539 HANNO SANDER CHAIRMAN OF THE BOARD 1.00 X X 0 0 0 JOHNNY YEH SECRETARY 1.00 X X 0 0 0 ANN BISHOP DIRECTOR 1.00 X 0 0 0 CARLTON BROWN DIRECTOR 1.00 X 0 0 0 ELENA FROST DIRECTOR 1.00 X 0 0 0 GUNJAN PATEL DIRECTOR 1.00 X 0 0 0 JANICE SCOTT DIRECTOR 1.00 X 0 0 0 JAY BORGES DIRECTOR 1.00 X 0 0 0 KEMAL ATKINS DIRECTOR 1.00 X 0 0 0 ROY BIGGE DIRECTOR 1.00 X 0 0 0 YUZHE HAN DIRECTOR (THRU 3/23) 1.00 X 0 0 0 PAUL CHOI EXECUTIVE VP/COO (THRU 9/23) 40.00 X 385379 0 24439 ANNE SUTARDJI CHIEF FINANCIAL OFFICER 40.00 X 254589 0 12470 NICHOLAS LADANY PRESIDENT 40.00 X 284402 0 9683 NELLY MANGAROVA CHIEF ACADEMIC OFFICER 40.00 X 226607 0 14184 ELTON LI SR DIRECTOR OF INFORMATION TECH 40.00 X 155840 0 6584 YAN HE SOFTWARE MANAGER 40.00 X 142600 0 7130 THAWI IWAGOSHI DEAN, SCHOOL OF ENGINEERING 40.00 X 137600 0 6680 MONICA SINHA SR DIR ADMISSIONS & SPECIAL PROJECTS 40.00 X 120840 0 6363 JAMES CONNOR DEAN, SCHOOL OF BUSINESS 40.00 X 120600 0 4824 1828457 0 92357 8 0 1 0 RW JONES AGENCY PO BOX 546 MEADOWLANDS PA 15347 CONSULTING SERVICE 417492 FISHER INVESTMENTS 5525 NW FISHER CREEK DR CAMAS WA 98607 INVESTMENT MANAGEMENT 339120 ALLIANCE BAY REALTY 37600 CENTRAL CT 264 NEWARK CA 94560 REAL ESTATE AGENCY 322200 EMERGENT LLP 155 MONTGOMERY STREET SUITE 300 SAN FRANCISCO CA 94104 LEGAL SERVICE 195229 MOSS ADAMS LLP PO BOX 101822 PASADENA CA 91189 AUDIT, FINANCIAL CONSULTING 185895 7 TUITION FEES 611310 4183382 4183382 4183382 3446640 3446640 1276198 1507091 -230893 -230893 -230893 100123764 11335000 88817628 6346765 11306136 4988235 16294371 16294371 OTHER INCOME 900001 52998 52998 52998 23746498 4183382 0 19563116 2901657 2901657 133538 133538 1211754 990741 221013 3584558 2532199 1052359 153128 104115 49013 120300 81794 38506 318270 216398 101872 4509 4509 964418 964418 203518 203518 478136 478136 143166 143166 256713 174544 82169 566292 385032 181260 254466 173016 81450 349946 237935 112011 47365 32204 15161 1243115 775372 467743 496983 496983 FACILITY EXPENSE 377640 256764 120876 REAL ESTATE TAX 308917 308917 REPAIRS AND MAINTENANCE 160012 108795 51217 1102445 1102445 15380846 10349715 5031131 0 18060345 4477225 15130635 229369 495720 218125 800249 57936466 16051975 49552770 41884491 196038894 243364176 264099503 306152496 584407 613684 245055 413833 166337 192429 995799 1219946 X 263103704 304932550 263103704 304932550 264099503 306152496 8365652 33463194 0 X 0 1 X 1 0 X 17324767 17324767 34695523 11542514 23153009 1829540 633173 1196367 3432086 3397652 34434 654550 478636 175914 41884491 SECURITY DEPOSITS 187708 DEFERRED RENT 4721 192429 X 55681584 33463194 33463194 22218390 1528108 1528108 23746498 13852738 0 13852738 1528108 1528108 15380846 PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER THE INTERNAL REVENUE CODE SECTION 501(C)(3) AND CALIFORNIA REVENUE AND TAXATION CODE, SECTION 23701D. ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. RE HLDGS LLC (DISSOLVED SEPTEMBER 30, 2022) WAS A PASS-THROUGH ENTITY FOR INCOME TAX REPORTING PURPOSES AND, ACCORDINGLY, DID NOT PAY TAX ON ITS INCOME. INSTEAD, INCOME OR LOSS WAS REPORTED ON THE TAX RETURNS OF THE UNIVERSITY. THE ENTITY WAS SUBJECT TO A MINIMUM FRANCHISE TAX FOR THE STATE OF CALIFORNIA. EACH YEAR, MANAGEMENT CONSIDERS WHETHER ANY MATERIAL TAX POSITION THE UNIVERSITY HAS TAKEN IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITY. MANAGEMENT BELIEVES THAT ANY POSITIONS THE UNIVERSITY HAS TAKEN ARE SUPPORTED BY SUBSTANTIAL AUTHORITY, AND HENCE, DO NOT NEED TO BE MEASURED OR DISCLOSED IN THESE FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 3,035,199. RENTAL EXPENSE RECLASS -1,507,091. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 3,035,199. RENTAL EXPENSE RECLASS -1,507,091. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE NONDISCRIMINATION POLICY CAN BE FOUND ON THE ORGANIZATION'S INTERNET HOMEPAGE. 0 0 0 0 0 0 0 0 0 0 SCHOLARSHIP EAST ASIA AND THE PACIFIC 7 16200 TUITION DEDUCTION GRANTS EAST ASIA AND THE PACIFIC 5 19913 TUITION DEDUCTION GRANTS RUSSIA AND NEIGHBORING STATES 1 3038 TUITION DEDUCTION SCHOLARSHIP SOUTH ASIA 2 20250 TUITION DEDUCTION SCHOLARSHIP SUB-SAHARAN AFRICA 15 67050 TUITION DEDUCTION GRANTS SUB-SAHARAN AFRICA 2 7088 TUITION DEDUCTION 0 0 0 0 0 0 1 TUITION GRANTS 224 1170011 FAIR MARKET VALUE TUITION REDUCTION TUITION SCHOLARSHIPS 193 1389646 FAIR MARKET VALUE TUITION REDUCTION STUDENT HOUSING ASSISTANCE 83 342000 FAIR MARKET VALUE DORM FEE REDUCTION PART I, LINE 2: THE SFBU SCHOLARSHIPS PROGRAM WAS ESTABLISHED TO HONOR MERITORIOUS AND MULTIFACETED STUDENTS. SCHOLARSHIPS ARE OFFERED TO QUALIFIED APPLICANTS, CURRENT STUDENTS AND ALUMNI (BOTH DOMESTIC AND INTERNATIONAL). THE SFBU SCHOLARSHIP COMMITTEE IS RESPONSIBLE FOR EVALUATING, SELECTING, AND AWARDING SCHOLARSHIPS. TERMS AND MINIMUM ELIGIBILITY FOR CONSIDERATION CAN BE FOUND AT SFBU.EDU/ADMISSIONS/SCHOLARSHIPS. X 1 1 X X X 1 0 0 0 0 0 0 0 0 PAUL CHOI EXECUTIVE VP/COO (THRU 9/23) 116391 0 0 0 268988 0 13622 0 10817 0 409818 0 0 0 NICHOLAS LADANY PRESIDENT 205625 0 19250 0 59527 0 8983 0 700 0 294085 0 0 0 ANNE SUTARDJI CHIEF FINANCIAL OFFICER 210840 0 43749 0 0 0 10788 0 1682 0 267059 0 0 0 NELLY MANGAROVA CHIEF ACADEMIC OFFICER 219407 0 0 0 7200 0 11210 0 2974 0 240791 0 0 0 ELTON LI SR DIRECTOR OF INFORMATION TECH 155840 0 0 0 0 0 6234 0 350 0 162424 0 0 0 PART I, LINE 1A PAUL CHOI AND NICHOLAS LADANY RECEIVED HOUSING ALLOWANCE AS TAXABLE FRINGE BENEFIT. PART I, LINE 4A PAUL CHOI RECEIVED TWO SEVERANCE PAYMENTS IN THE AMOUNTS OF $74,479 AND $126,146. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS UNDERWENT A SUBSTANTIAL UPDATE AND REWRITE. AMONG OTHER ITEMS, THE BYLAWS UPDATED THE NAME OF THE ORGANIZATION, MODIFIED AND RESTRUCTURED THE TERMS OF BOARD MEMBERS, DREW DISTINCTIONS BETWEEN BOARD OFFICERS AND INSTITUTIONAL OFFICERS AND REVISED ISSUES PERTAINING TO THE ELECTION AND REMOVAL OF OFFICERS, PROHIBITED CERTAIN LOANS FROM BEING EXTENDED BY THE ORGANIZATION, AND ADDRESSED THE HANDLING OF RECORDS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM. A DRAFT OF THE FORM IS REVIEWED BY THE AUDIT COMMITTEE. THE FINAL VERSION OF THE FORM 990 IS SUBMITTED TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY. THE ORGANIZATION MONITORS ANY CONFLICTS OF INTEREST AS NEEDED TO ENSURE THAT ALL CONFLICTS ARE PROPERLY DISCLOSED AND KNOWN BY THE BOARD OF DIRECTORS. IF A CONFLICT ARISES, THE PERSON WITH A CONFLICT IS NOT ALLOWED TO VOTE ON THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 WITH REGARD TO COMPENSATION FOR THE PRESIDENT AND CFO, THE ORGANIZATION MAINTAINS AN EXECUTIVE COMPENSATION AND HOUSING COMMITTEE. THIS COMMITTEE EVALUATES AND SETS EXECUTIVE COMPENSATION AND, TO INFORM ITS DECISIONS, HAS HISTORICALLY USED COMPARABLES AND COMPENSATION STUDIES BY INDEPENDENT THIRD PARTIES. COMPENSATION APPROVAL FOR OTHER OFFICERS AND KEY EMPLOYEES IS BASED ON USING COMPARABLES, WORKING WITH HUMAN RESOURCES, AND DOCUMENTING COST OF LIVING INCREASES. THE APPROVAL PROCESS IS DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES DOCUMENTS REFERENCED IN PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST.